Conventional thermosetting composites exhibit advantageous mechanical properties owing to the use of an autoclave; however, their wide usage is limited by high production costs and long molding times. In contrast, the fabrication of thermoplastic composites involves out-of-autoclave processes that use press equipment. In particular, induction-heating molding facilitates a quicker thermal cycle, reduced processing time, and improved durability of the thermoplastic polymers; thus, the process cost and production time can be reduced. In this study, carbon fiber/polyphenylene sulfide thermoplastic composites were manufactured using induction-heating molding, and the relationships among the process, structure, and mechanical properties were investigated. The composites were characterized using optical and scanning electron microscopy, an ultrasonic C-scan, and X-ray computed tomography. In addition, the composites were subjected to flammability tests. This study provides novel insights into the optimization of thermoplastic composite manufacturing and thermoset composite curing processes.